Singapore legislation

Clause 46

Amendments to Accounting and Corporate Regulatory Authority Act

The Accounting and Corporate Regulatory Authority Act (Cap. 2A, 2005 Ed.) is amended —

(a)

by deleting the definition of “Chief Executive” in section 2 and substituting the following definition:“ “Chief Executive” means the Chief Executive of the Authority, and includes any individual acting in that capacity;”;

(b)

by deleting subsection (1) of section 8 and substituting the following subsection:“(1) The Minister may give to the Authority any direction under section 5 of the Public Sector (Governance) Act 2018.”;

(c)

by deleting the words “, except the power of delegation conferred by this section and the power to make subsidiary legislation under this Act or such other written law” in section 9(2);

(d)

by repealing section 10 and substituting the following section:“Chief Executive, officers and employees, etc.10.—

(1)

There must be a Chief Executive of the Authority, whose appointment, removal, discipline and promotion must be in accordance with the Public Sector (Governance) Act 2018.(2) The Authority may, subject to the Public Sector (Governance) Act 2018, appoint an individual to act temporarily as the Chief Executive during any period, or during all periods, when the Chief Executive —

(a)

is absent from duty or Singapore; or

(b)

is, for any reason, unable to perform the duties of the office.(3) The Authority may, subject to the Public Sector (Governance) Act 2018, appoint and employ, on such terms and conditions as it may determine, such other officers, employees, consultants and agents as may be necessary for the effective performance of its functions.”;

(e)

by repealing section 21 and substituting the following section:“Financial year

21. The financial year of the Authority begins on 1 April of each year and ends on 31 March of the succeeding year.”;

(f)

by deleting paragraph (iii) of section 34(1) and substituting the following paragraphs:“(iii)in compliance with the requirement of any court or as required or allowed by the provisions of any written law;

(iiia)with the prior authorisation from the Authority to do so;”;

(g)

by inserting, immediately after the words “Subject to the provisions of this Act” in paragraph 12(7) of the First Schedule, the words “and the Public Sector (Governance) Act 2018”; and

(h)

by repealing sections 9(4), 12, 16(1), (2) and (3) and 29, paragraph 10 of the First Schedule, and the Third Schedule.

Read in full context — Public Sector (Governance) Bill →